Anybody do this at their club?  If so, how do you work it, and how has it worked out?

Never heard of this please explain.

never heard of it either

I'd rather lunker at the end of each day.

Instead we do an extra $5 per tourney that goes to 2nd 3rd and 4th in points.

What is progressive lunker?

It sounds like a big fish pot that continues to grow until that size fish has been caught. Whom ever catches that fish wins all the money.